Creekmur Asset Management LLC Takes Position in The Procter & Gamble Company (NYSE:PG)

Creekmur Asset Management LLC purchased a new stake in The Procter & Gamble Company (NYSE:PG) in the fourth quarter, HoldingsChannel reports. The firm purchased 4,401 shares of the company’s stock, valued at approximately $645,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rafferty Asset Management LLC raised its position in Procter & Gamble by 11.4% during the third quarter. Rafferty Asset Management LLC now owns 175,620 shares of the company’s stock valued at $25,616,000 after purchasing an additional 18,035 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Procter & Gamble during the third quarter worth $40,265,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Procter & Gamble during the third quarter worth $23,962,000. Envestnet Asset Management Inc. increased its holdings in shares of Procter & Gamble by 35.3% during the third quarter. Envestnet Asset Management Inc. now owns 3,044,291 shares of the company’s stock worth $444,040,000 after buying an additional 793,500 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Procter & Gamble by 80.7% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 41,787 shares of the company’s stock worth $6,095,000 after buying an additional 18,656 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Stock Up 0.2 %

Shares of PG stock traded up $0.38 on Friday, reaching $166.79. 3,694,974 shares of the company were exchanged, compared to its average volume of 4,965,412. The company has a market cap of $393.65 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 3.38 and a beta of 0.42. The company has a 50-day moving average of $163.40 and a 200-day moving average of $157.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $168.97.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. The company had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 EPS. Analysts anticipate that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Thursday, April 18th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is 65.85%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PG shares. The Goldman Sachs Group started coverage on shares of Procter & Gamble in a report on Friday, March 1st. They set a “neutral” rating and a $168.00 price target for the company. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and upped their price target for the stock from $160.00 to $175.00 in a report on Monday, March 11th. Barclays boosted their price objective on shares of Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, StockNews.com raised shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $169.76.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 28,369 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total value of $4,581,309.81. Following the sale, the insider now owns 11,507 shares in the company, valued at approximately $1,858,265.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar G. Raman sold 31,924 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the sale, the chief executive officer now owns 19,042 shares in the company, valued at approximately $3,179,061.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Balaji Purushothaman sold 28,369 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the sale, the insider now owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The disclosure for this sale can be found here. Insiders have sold 154,544 shares of company stock valued at $25,413,051 in the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.